Cisco to takeover Duo Security in a $2.35 billion deal

Aug 2, 2018, 4:00 pm

Sayantoni B.

More Post

Last year, Cisco Systems Inc had purchased business performance management and operation analytics company, AppDynamics, for $3.7-billion purchase. Now, Cisco is about to make significant headway with an even bigger acquisition, by buying Duo Security, a provider of cloud-based authentication services, for $2.35 billion in cash, as the company commented on Thursday.

This is going to be its biggest deal in the cybersecurity department since 2013 when the tech conglomerate took over Sourcefire.

Duo’s Trusted Access platform is used to verify the identity of its users with a two-step authentication process and is integrated with clouds, websites, and VPNs. Firms like Index Ventures and Workday have invested in its services.

According to Reuters, Cisco is discussing the deal with the said company, which is expected to be complete by the first quarter of 2019.

If things go smoothly, the deal will help Cisco expand business in its cybersecurity and cloud computing sector and bring in new profits to its long-established business of networking hardware and equipment.

Brand Partnership
Your brand needs a brand voice. Contact our marketing team for brand partnership with us.
Talk to Us
Join our Newsletter
Sign up to receive top tech stories daily delivered in your inbox
Share your thoughts. Enable the box to comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.